Transcat (NASDAQ:TRNS) Price Target Raised to $116.00 at HC Wainwright

by · The Markets Daily

Transcat (NASDAQ:TRNS – Free Report) had its price objective hoisted by HC Wainwright from $106.00 to $116.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also recently commented on the company. Oppenheimer cut Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Northland Securities reiterated a “market perform” rating and set a $85.00 target price (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Transcat from a “sell” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $114.00.

View Our Latest Analysis on Transcat

Transcat Stock Performance

TRNS opened at $90.39 on Wednesday. The stock has a market cap of $841.44 million, a P/E ratio of 48.86 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $78.68 and its 200 day simple moving average is $89.84. Transcat has a 1-year low of $67.56 and a 1-year high of $147.12.

Transcat (NASDAQ:TRNS – Get Free Report) last released its quarterly earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $77.13 million during the quarter, compared to analyst estimates of $76.40 million. Transcat had a return on equity of 7.23% and a net margin of 6.22%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Transcat will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Transcat

A number of large investors have recently bought and sold shares of TRNS. Jane Street Group LLC purchased a new position in shares of Transcat during the 1st quarter worth $1,674,000. Fred Alger Management LLC lifted its stake in shares of Transcat by 1.6% during the 1st quarter. Fred Alger Management LLC now owns 216,218 shares of the scientific and technical instruments company’s stock worth $16,097,000 after purchasing an additional 3,317 shares during the period. Needham Investment Management LLC lifted its stake in shares of Transcat by 28.2% during the 1st quarter. Needham Investment Management LLC now owns 65,000 shares of the scientific and technical instruments company’s stock worth $4,839,000 after purchasing an additional 14,300 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Transcat by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after purchasing an additional 325 shares during the period. Finally, Granahan Investment Management LLC lifted its stake in shares of Transcat by 12.9% during the 1st quarter. Granahan Investment Management LLC now owns 213,167 shares of the scientific and technical instruments company’s stock worth $15,870,000 after purchasing an additional 24,404 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Transcat

(Get Free Report)

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.

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